Fiserv earnings missed by $0.61, revenue fell short of estimates
Investing.com - JPMorgan has raised its price target on Melexis NV (BR:MELE) (OTC:MLXSF) to EUR70.00 from EUR64.00 while maintaining a Neutral rating on the stock ahead of the company’s third-quarter results.
The Belgian semiconductor manufacturer is scheduled to release its Q3 results on October 29, followed by an Investor Day on November 5, according to JPMorgan’s research note.
The investment bank expressed comfort with Melexis meeting its Q3 guidance, which is reflected in current market consensus, but placed the stock on Negative Catalyst Watch ahead of these upcoming events.
JPMorgan cited concerns about the trajectory in 2026, noting that current consensus estimates may not adequately reflect the deteriorating outlook in the automotive market, which represents approximately 90% of Melexis’ revenues.
The firm has reduced its estimates for 2026-2027 due to expectations for weaker performance in the automotive sector, and sees risk of a downward reset in consensus forecasts following the Q3 results and Investor Day.
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